Bitcoin payment provider Strike has expanded its support to 65 countries, including El Salvador and Argentina, where it previously operated. Additionally, the company has moved its global headquarters to El Salvador from the US due to the increasing regulatory conditions surrounding cryptocurrencies in the US. According to the CEO, Jack Mallers, Strike’s expansion is geared towards bringing clarity to the concealed, unregistered licensing regimes surrounding over 1,000 different crypto assets to help customers understand the clouded world of crypto exchanges. The company intends to enable users in new global markets to only receive Bitcoin at first, but future moves will see it launch new features and provide US dollar payments with Tether for markets outside the United States. Bitfinex and Strike were among the first companies to receive El Salvador’s Digital Asset Service Provider license.
The company was previously held back in the US due to the rigid regulatory regimes, making it refrain from offering services in New York. However, El Salvador’s crypto-inclusive regulations are an attractive point for technological innovations in the country. Furthermore, El Salvador’s adoption of Bitcoin as a legal tender has proven to be successful, according to Mallers. Other factors, such as increased tourism, have contributed to the country’s Bitcoin success story. Mallers noted that they would have been an object of mockery two years ago for having their headquarters in El Salvador, but the recent move enables them to present their products to over 3 billion people. The benefits of El Salvador’s engagement in Bitcoin and digital assets include financial sovereignty, economic freedom, unrestricted wealth flow, censorship resistance, and exceptional user protection from cybercrime.
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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